Sun Communities, Inc. $SUI Stock Position Raised by Yousif Capital Management LLC

Key Points

• Yousif Capital Management increased its Sun Communities stake by 489.1% in the third quarter, owning 36,581 shares worth approximately $4.05 million. Institutional investors and hedge funds collectively hold 99.59% of SUI shares.
• Sun Communities reported quarterly EPS of $2.35, exceeding the $1.25 consensus estimate, while revenue reached $558.2 million, slightly below expectations and up 0.4% year over year.
• The REIT declared a quarterly dividend of $1.12, equivalent to an annualized $4.48 and a 3.7% yield. Analysts maintain a consensus “Moderate Buy” rating with a $137.05 target price, compared with shares recently trading at $119.84.

Yousif Capital Management LLC raised its position in Sun Communities, Inc. (NYSE:SUI - Free Report) by 489.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 36,581 shares of the real estate investment trust's stock after acquiring an additional 30,371 shares during the period. Yousif Capital Management LLC's holdings in Sun Communities were worth $4,052,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Engineers Gate Manager LP boosted its holdings in Sun Communities by 5,319.8% during the second quarter. Engineers Gate Manager LP now owns 227,305 shares of the real estate investment trust's stock worth $27,256,000 after buying an additional 223,111 shares in the last quarter. National Pension Service boosted its stake in shares of Sun Communities by 164.0% during the 2nd quarter. National Pension Service now owns 25,236 shares of the real estate investment trust's stock worth $3,026,000 after acquiring an additional 15,678 shares in the last quarter. BlackRock Inc. purchased a new stake in shares of Sun Communities during the 2nd quarter worth approximately $1,649,715,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Sun Communities during the 2nd quarter worth approximately $3,805,000. Finally, Korea Investment CORP acquired a new stake in shares of Sun Communities in the 2nd quarter worth approximately $8,539,000. 99.59% of the stock is owned by institutional investors and hedge funds.

Sun Communities Stock Down 0.3%

Shares of NYSE SUI opened at $119.84 on Tuesday. The firm's 50-day moving average is $116.95 and its two-hundred day moving average is $123.73. The company has a market capitalization of $14.60 billion, a PE ratio of -16.90, a price-to-earnings-growth ratio of 5.14 and a beta of 0.76. Sun Communities, Inc. has a 12-month low of $109.77 and a 12-month high of $137.85. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.52 and a quick ratio of 2.52.

Sun Communities (NYSE:SUI - Get Free Report) last issued its quarterly earnings data on Monday, October 26th. The real estate investment trust reported $2.35 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $1.10. Sun Communities had a negative net margin of 39.03% and a positive return on equity of 2.63%. The business had revenue of $558.20 million during the quarter, compared to analysts' expectations of $563.59 million. During the same period last year, the company posted $2.28 EPS. The company's revenue was up .4% on a year-over-year basis. Equities analysts anticipate that Sun Communities, Inc. will post 7.03 EPS for the current fiscal year.

Sun Communities Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Wednesday, September 30th. Sun Communities's payout ratio is -63.19%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Mizuho dropped their price objective on Sun Communities from $137.00 to $136.00 and set an "outperform" rating for the company in a research note on Monday, September 21st. Royal Bank Of Canada decreased their target price on Sun Communities from $148.00 to $140.00 and set an "outperform" rating on the stock in a research report on Tuesday, October 13th. Barclays decreased their target price on Sun Communities from $147.00 to $143.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 14th. Wells Fargo & Company lowered their target price on Sun Communities from $141.00 to $136.00 and set an "overweight" rating on the stock in a report on Monday, October 19th. Finally, Wall Street Zen cut Sun Communities from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $137.05.

About Sun Communities

Sun Communities, Inc NYSE: SUI is a real estate investment trust that owns, operates and develops manufactured housing communities, recreational vehicle (RV) resorts and marinas. The company provides residential sites for manufactured homes, seasonal and long-term RV accommodations, and marina facilities that include boat slips and related storage services.

Sun Communities also offers vacation accommodations and amenities such as swimming pools, clubhouses, recreational facilities and community services.

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